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EARNINGS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
The following table sets forth the comparison of basic and diluted earnings per common share:
 
 
 
 
 
 
 
 
 
At and year ended December 31,
2015
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
 
 
 
 
 
 
Net income
$
641,631

 
$
804,564

 
$
727,465

 
 
Less: amounts attributable from noncontrolling interests
—

 
(6,181
)
 
—

 
 
Less: preferred share dividends
40,069

 
40,088

 
40,474

 
 
Less: loss on repurchase of preferred shares
—

 
—

 
3,081

 
 
Net income available to common shareholders
$
601,562

 
$
770,657

 
$
683,910

 
 
Weighted average common shares outstanding - basic(1)
98,609

 
104,368

 
113,636

 
 
Basic earnings per common share
$
6.10

 
$
7.38

 
$
6.02

 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share
 
 
 
 
 
 
 
Net income available to common shareholders
$
601,562

 
$
770,657

 
$
683,910

 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic(1)
98,609

 
104,368

 
113,636

 
 
Share-based compensation plans
1,020

 
1,345

 
1,692

 
 
Weighted average common shares outstanding - diluted(1)
99,629

 
105,713

 
115,328

 
 
Diluted earnings per common share
$
6.04

 
$
7.29

 
$
5.93

 
 
 
 
 
 
 
 
 
 
Anti-dilutive shares excluded from the dilutive computation
165

 
282

 
250

 
 
 
 
 
 
 
 
 
 
(1)
On August 17, 2015, the Company entered into an Accelerated Share Repurchase (“ASR”) agreement (refer to Note 13 'Shareholders' Equity' for additional detail). The weighted-average number of shares outstanding used in the computation of basic and diluted earnings per share reflects the Company’s receipt of 4,149,378 shares delivered to the Company on August 20, 2015 under the Company's ASR agreement.